When we hear the password, the red warning lamp always lights up. Sometimes we prefer to postpone the purchase of some equipment and collect the amount we need than to credit the purchase. While buying equipment, collecting the amount is not that problematic, when buying a house or a flat, things get a little more complicated. When deciding to buy a property, a loan to buy a home becomes inevitable. You have to face this challenge.

First of all, let’s think carefully about the choice of real estate. This is a serious investment. We choose the place where we will spend our next years. There are many real estate listings. It is important to choose the one that suits our needs. Let’s also think about the budget we have. A loan to buy a home can’t ruin us. She just has to afford us.

Purchase contract

Purchase contract

When we choose the right property, let’s carefully analyze the purchase contract. If we think that all is well with her, it’s time to go to the bank. We have to think carefully about a loan to buy a home. If you are frightened by the formalities related to arranging for a bank loan yourself, we can use the professional help of a financial advisor. The adviser will explain all our doubts, tell us what we need to pay attention to and fill in the necessary applications for us. Enriched by the acquired knowledge we have to analyze all obtained information ourselves. Let’s think carefully how much contribution we are able to pay ourselves. We should remember that the more own funds we engage in credit, the more favorable conditions we will receive. It is sometimes worth a little to refrain from buying and collect a certain amount to simply borrow less money from the bank, and thus later and less return. A home loan is a loan for at least 20 years.

An important issue is also whether we buy a house from the secondary or primary market. The procedure in these two cases is slightly different, others also need documents. In both cases, however, we will absolutely need a preliminary contract.
If we buy a house on the primary market, we must provide documents such as:
– excerpt from the land and mortgage register;
– documents confirming the business operations of the developer and an excerpt from the land register;
– preliminary contract and building permit (if the building is not yet built) or use (if we buy a ready building).
If we buy a house from the secondary market, we must prepare the following documents:
– excerpt from the land and mortgage register;
– a notarial deed confirming the ownership of real estate;
– preliminary contract
– real estate appraisal made by an appraiser.

We should also remember that buying real estate from the secondary market is connected with the obligation to pay tax on civil law transactions in the amount of 2% of the property value.
Taking a loan to buy a house, you should also think about funds for its renovation. We can also credit such funds. To get a loan to buy a house with funds for renovation, we must attach a cost estimate showing the scope of planned works, their cost and date of completion to the loan application.

It can also happen that we are interested in buying real estate whose mortgage is encumbered with a loan. The case is then a bit more complicated. In addition to the documents mentioned above, the loan application should be accompanied by a statement from the bank where the loan is currently taken, indicating whether and under what conditions it will grant permission to be released from the mortgage. The seller’s debt must be repaid first.

Home loan

Home loan

Enriched with this knowledge, we can already sign a loan to buy a house. After accepting the initial applications and stating that we have adequate creditworthiness, we can do nothing more than arrange a visit to the bank to sign the relevant documents. At this point we are becoming happy mortgage holders.
To sum up, a home loan is not a big deal. Before we make this decision, we need to think it over carefully. First of all, consider whether we can afford it.

It is not an art to get a loan, it is an art to be able to function normally with it. Let’s not be afraid to ask if something raises our doubts. Let’s examine all the pros and cons. Let’s be aware of all the consequences of signing a loan. Let’s recalculate our expenses and check whether the credit burden will not disturb our home budget or overburden us. We will pay back the loan to buy a house in the coming years, so we need to know if the burden will be too great.